Dividend comparison

SGOV vs FDLXX: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for iShares 0-3 Month Treasury Bond ETF and Fidelity Treasury Only Money Markey Fund, side by side. Updated October 21, 2026.

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SGOV vs FDLXX: key differences
The short answer, from the latest data on this page.
  • Income. SGOV pays more income, yielding 3.64% over the last twelve months versus 3.38% for FDLXX. That is about $26 more a year on $10,000. SGOV pays monthly, FDLXX pays annual.
  • Risk. Their worst declines over the last 5 years were similar: -0.6% for SGOV and 0.0% for FDLXX from peak to trough.
  • Dividend growth. FDLXX grew its yearly payout 327.9% a year over the last 4 years, versus 238.5% for SGOV.

Bottom line: SGOV fits better if you care most about more income today. FDLXX fits better if you care most about faster dividend growth.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricSGOV
iShares 0-3 Month Treasury Bond ETF
FDLXX
Fidelity Treasury Only Money Markey Fund
Dividend yield (TTM)3.64%3.38%
Dividend / share (TTM)$3.67$0.03
Payout frequencyMonthlyAnnual
Last dividend$0.3005 on Oct 6, 2026$0.0028 on Oct 1, 2026
Ex-dividend dateOct 1, 2026Sep 30, 2026
Dividend growth (CAGR)238.5% over 4 yrs327.9% over 4 yrs
Price$100.61$1.00
Beta0.000.00
Max drawdown (5Y)-0.6%0.0%
Market cap$96.06B—
ExchangeNYSENASDAQ
Expense ratio0.09%—
Assets under management$116.27B—
Number of holdings24—
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

SGOV

$30.36/mo

$364 /yr at 3.64% yield

FDLXX

$28.16/mo

$338 /yr at 3.38% yield

Dividend history
Total dividends paid per share in each calendar year. SGOV pays monthly; FDLXX pays annual.
YearSGOVFDLXX
2025$4.1157$0.0389
2024$5.1151$0.0486
2023$4.8826$0.0443
2022$1.4546$0.0095
2021$0.0313$0.0001
Strategy: Cash equivalent
Funds holding short-dated US government paper, where the objective is that the principal is there when you need it. Yield follows short-term interest rates with a short lag rather than being locked in, so income falls when the central bank cuts and rises when it hikes. Because the underlying holdings are nearly identical across providers, the expense ratio comes almost directly out of what you receive.

There is no growth here by design, and purchasing power erodes whenever the after-tax yield sits below inflation.

What SGOV vs FDLXX actually do

SGOV
An iShares fund holding US Treasury bills maturing within three months, used as a parking place for cash.

It tracks an ICE index of 0 to 3 month Treasury securities, so the entire portfolio rolls over every quarter and its yield tracks short-term rates with a short lag rather than being locked in. Interest accrues into the share price through the month and is paid out monthly, which is why the price ratchets up and then drops back by the distribution amount instead of trending. Because the holdings are direct Treasury obligations, the income is generally exempt from state and local tax.

Suits an emergency fund, a savings goal with a near-term date, or the cash sleeve of a portfolio waiting to be deployed. It is not an investment in any growth sense, and it will lose purchasing power to inflation whenever short rates sit below it.

Capital preservation

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Jun 22, 2026 would now be worth $10,001 in SGOV and $10,000 in FDLXX.
PeriodSGOVFDLXX
1 month0.02%0.00%
3 months0.03%0.00%
Year to date0.23%—
1 year0.69%—
3 years10.76%—
5 years17.07%—
  • SGOV
  • FDLXX
1001001002026100100

Both series indexed to 100 on 2026-06-22 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
  • SGOV
  • FDLXX
0%25%50%75%100%Cash & Others100.0%U.S. Treasury Debt99.5%Investment Company0.5%

Quick verdict

SGOV fits better if you care most about more income today. FDLXX fits better if you care most about faster dividend growth. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is SGOV or FDLXX better for dividend income?
It depends on your goals. SGOV currently yields 3.64% Trailing Twelve Months (TTM) while FDLXX yields 3.38%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between SGOV and FDLXX?
iShares 0-3 Month Treasury Bond ETF (SGOV) is an ETF listed on NYSE. Fidelity Treasury Only Money Markey Fund (FDLXX) is an ETF listed on NASDAQ. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is riskier, SGOV or FDLXX?
Measured by the worst peak-to-trough decline over the last five years, SGOV has been riskier: SGOV fell as much as 0.6% and FDLXX as much as 0.0%. Their betas are 0.00 and 0.00.
How often do SGOV and FDLXX pay dividends?
SGOV pays monthly and FDLXX pays annual.
How much income does $10,000 in SGOV vs FDLXX generate?
At current TTM yields, $10,000 in SGOV would generate roughly $30.36 per month ($364 annually). The same amount in FDLXX would produce about $28.16 per month ($338 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SGOV and FDLXX?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare SGOV vs FDLXX with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SGOV and FDLXX fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.